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More Quality IPOs Expected for Hong Kong Stocks in 2001
Leading global professional services firm Arthur Anderson predicted Tuesday that the IPO (initial public offering) market will remain strong this year, following a record number of new listings and money raised in 2000.
But 2001 would see more quality corporations listed instead of just sheer numbers, according to Kennedy Liu Tat-yin, partner of Arthur Anderson's Enterprise Group.
At a press conference to release Arthur Anderson's IPO Watch 2000 Report, Liu said the 90 IPOs last year raised HK$132 billion (US$16.9 billion), of which, HK$97 billion (US$12.4 billion) was raised by Chinese mainland enterprises, H-shares and red chips.
Of the 90 IPOs, 43 companies were listed on the main board and 47 on the Growth Enterprise Market.
The total funds raised through the Hong Kong Stock Exchange in 2000 amounted to HK$460 billion (US$59 billion) and more than HK$343 billion (US$44 billion), or 75 percent of the total, was raised by H-shares and red chip companies.
"All these figures point to the fact that Hong Kong has been very successful in performing its role as the primary international capital formation center for China," he said.
"We believe that we have a unique strategic advantage and ingredient for success by virtue of our irreplaceable role as an investment gateway to the Chinese mainland for international investors, and as an efficient market for supplying the capital needs of mainland companies," he added.
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